Banco Santander Acquires 100% Stake in Coches.com
Deal News | Apr 30, 2025 | Aim Group
Banco Santander has increased its stake to full ownership of Spain's auto marketplace operator, Autodescuento, which owns Coches.com. Initially acquiring a 93.8% stake in January 2020 through Santander Consumer Finance, Banco Santander has now acquired the remaining 6.2% from the company's founders, Gerardo Cabaas and Nuo López-Coronado. This move aligns with Banco Santander's strategy of enhancing its digital service offerings, especially in sectors with high financing potential like the auto market. Coches.com is pivotal in the Spanish automotive marketplace, accounting for 32% of new vehicle transactions between individuals. In March 2025, Coches.com recorded 1.3 million visits, although it trails behind competitors like Adevinta's Coches.net and others.
Sectors
- Financial Services
- Automotive Marketplace
Geography
- Spain – The transaction and the companies involved are primarily based in Spain, making this a significant geographical market for the deal.
Industry
- Financial Services – Banco Santander is a major financial services organization, and the acquisition reflects its strategic priorities in digital services integration.
- Automotive Marketplace – Coches.com operates as an automotive marketplace in Spain and plays a significant role in transaction facilitation for new and used vehicles.
Financials
- 93.8% – Previously acquired stake in Autodescuento by Banco Santander in January 2020.
- 6.2% – Remaining stake acquired by Banco Santander from the original founders.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Banco Santander | Buyer | Company | Banco Santander is Spain's largest bank by market capitalization and is expanding its digital footprint. |
| Autodescuento SL | Target Company | Company | Autodescuento SL is the holding company for Coches.com, a prominent digital auto marketplace. |
| Gerardo Cabaas | Seller | Person | Gerardo Cabaas is the co-founder and former CEO of Coches.com. |
| Nuo López-Coronado | Seller | Person | Nuo López-Coronado is the co-founder and former head of product and marketing at Coches.com. |